Bitcoin had not approached $80,000 since mid-May. Since then, several corrections brought it back under $60,000. In recent days, the movement reversed and the price rose sharply. Over one wee
Bitcoin had not approached $80,000 since mid-May. Since then, several corrections brought it back under $60,000. In recent days, the movement reversed and the price rose sharply. Over one week, the increase exceeds 25%, with significant liquidations involved. It remains to be seen if the rebound will hold.
Bitcoin has just recorded its strongest weekly performance since March 2023. Starting from about $63,000, it climbed close to $80,000. The movement was built step by step, crossing several technical thresholds. However, not everything was easy. A 6% flash crash swept away $108 billion of short positions in six minutes and 500 million long positions in about thirty minutes. This is one of the most violent episodes seen since October 2025.
Despite this setback, bitcoin regained altitude and is approaching $80,000. At this level, there is a significant selling wall, where many traders had bought in May before the drop. If it breaks through decisively, the $95,000-$97,000 zone could open. If it stalls, a correction remains possible. The market is divided between those who see continuation and those who expect a reversal.
The trigger for this rebound is not found in crypto fundamentals but in US fiscal policy. On August 19, Treasury Secretary Scott Bessent announced the doubling of the long bond buyback program, now set at $4 billion per operation. The goal was to lower 30-year yields, which hovered around 5.25%, their highest level since 2007.
Start your crypto adventure safely with KrakenThis link uses an affiliate program.The result was mixed. Yields did not really fall. However, bitcoin rose 25%, and gold gained about 7%. Bessent has leeway via the Treasury General Account, currently showing $950 billion, compared to $550-600 billion under the Biden administration.
Fabian Dori of Sygnum believes this “revives the narrative of monetary devaluation“. Robin Brooks of the Brookings Institution talks about an “era of devaluation“. In this context, bitcoin and gold again attract investors seeking non-sovereign stores of value.
The US Senate must vote on September 15 on the CLARITY Act, a bill concerning the structure of the crypto-assets market. Donald Trump has called for its adoption. Democrats, meanwhile, demand ethical provisions related to its personal investments. The Fed will hold its meeting on September 15-16, with a possible rate cut on the table.
Bitcoin ETF flows exceeded $1 billion this week. This signals the return of institutional interest. However, the $80,000 zone remains a clear short-term resistance. A clear breakout could turn it into support and open the way to $95,000-$97,000.
Standard Chartered even estimates that its $100,000 target by year-end could prove too cautious. Traders keep an eye on liquidations, ETF flows, and technical signals.
Bitcoin attracts the attention of the entire crypto market. Gold has also risen and exceeded $5,000, driven by the same fears of dollar devaluation. Both assets currently move in the same direction, a sign of some decline in confidence in fiat currencies. Competition between these stores of value continues.
